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Maximizing Merger Integration Success Using Proven Methods of Dr. Price Pritchett
Manage episode 371132133 series 2860667
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Dr. Price Pritchett is the Founder and CEO of Pritchett, LP, a consulting firm with 40-plus years of proven expertise in merger integration, corporate culture, and change management. He’s an authoritarian on growth strategies, and his first book, After the Merger: Managing the Shockwaves, is the cardinal book on merger and acquisition integration. Upon its successful reception, Dr. Pritchett went on to pen additional 30-plus books, which have collectively sold over 14 million copies, making him one of the best-selling business authors in the world.
Pritchett, LP’s client list consists of mainly Fortune 1000 companies, including American Airlines, Honeywell, NASA, Sony, Texas Instruments, and Wells Fargo, to name a few. As a thought leader and keynote speaker, he’s addressed executive groups such as the American Medical Association, John Deere, Mattel, and General Motors.
In this episode…Statistics reveal that 50-70% of executives fail within the first year and a half of taking on a role. In a merger environment, that percentage increases. Mergers and acquisitions are more than pristine bookkeeping and performing due diligence. It can be a politicized process chock-full of risks, and its success rate depends on leadership competency.
Dr. Price Pritchett, author of the best-seller After the Merger: Managing the Shockwaves, warns that executive leaders are at higher risk of termination during a merger. On the contrary, a merger is more likely to fail when premier talent prematurely flees for fear of losing their job. Other factors to consider are company cultures, organizational structure, and operational costs. Though these are key responsibilities placed on department heads, Dr. Pritchett cautions that an aloof CEO reflects the company’s leadership.
In this episode of the Talent Wins podcast, Chris Mursau sits with Dr. Price Pritchett, Founder and CEO of Pritchett, LP, to discuss strategies for a successful merger. Dr. Pritchett explains how premier talent plays an integral role in the success of merger integrations, why CEOs need to be more involved in the recruiting process, and M&A best practices.
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